Court upholds 2018 arbitral award in Maran-SpiceJet case

The Delhi High Court on Monday refused to interfere with the 2018 arbitral tribunal award that asked SpiceJet to refund ₹579 crore with interest to former promoter Kalanithi Maran in a seven-year-old share transfer dispute.

While rejecting the cross-petitions by Maran and SpiceJet challenging the arbitral tribunal’s 2018 award, Justice CD Singh held that the parties have “failed to substantiate the grounds for setting aside the impugned Arbitral Award of July 20, 2018” and even the court is “barred from entering into the merits of an Award.”